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January 18, 2022

No fewer than 21,700 companies became insolvent in 2010

An increasingly high number of companies has gotten to a point where they are unable to pay back their debts. Close to 21,700 enterprises entered insolvency in 2010, from 19,900 the year before, according to data supplied by the National Trade Register Office (ONRC). Bucharest and Bihor County registered the largest number of bankruptcies. At the opposite end of the scale, the counties of Mehedinti and Covasna, with fewer than 100 companies going bust. “Most often, Bucharest companies refer to problems related to excessive taxation, unpredictability, financial wise mostly, red tape, and excessive taxation of the work force. Inability to pay areas owed to the state and the lack of cohesive policies encouraging the private environment are among the other reasons claimed,” Sorin Dimitriu,

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